How Banks are Helping Customers Withstand Coronavirus Shock

As communities across the country are hit by the coronavirus some banks are stepping in to help; in Seattle some businesses are seeing a 70% decline in business so local bank WaFd (formerly Washington Federal Bank) has readied $100 million in credit to impacted businesses, offering credit lines up to $200,000 interest free for 90 days and will expedite loans up to $30,000 for affected businesses; Ridgewood Savings Bank in New York will offer interest-free loans secured by customers’ deposit balances and is exploring forbearance on interest payments for borrowers; JPMorgan Chase and the PNC Financial Services Group in Pittsburgh both told American Banker they would work with customers on an individual basis. American Banker

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